34 THECUB A REVIEW 



SUGAR REVIEW 



Specially written for The Cuba Renew by WilleU & Or ay. New York, N. Y. 



Our last report was dated December 11, 1917, at which time the market for old crop 

 Cubas was quoted at 5.70c. c. & f . or G.72c. duty paid. Later in the month new crop basis of 

 4.985c. c. & f . (6.005c. duty paid) became effective, the arrangements regarding freights finally 

 having become completed. The new freights were published in detail by us in our Weekly 

 Statistical Sugar Trade Journal of December 27th, 1917, and vary from 383/^c. for certain ports 

 on the north side to 53 He. for some points on the south shore of Cuba. The above details 

 having been arranged, offerings became much freer, and on January 10, the International Sugar 

 Committeee reported purchases of about 300,000 bags of Cubas for prompt and January ship- 

 ments, and on the 11th inst., 232,000 bags in same positions at price of 4.985c. c. & f. (6.005c.) 

 together with some full duty sugars at same equivalent. 



Latest advices from Cuba indicate that favorable weather is prevailing and 148 centrals are 

 now grmding. During the period under review Messrs. Guma-Mejer have published their 

 estimate of the new crop at 3,589,429 tons. 



Our annua) statement of the sugar business of the United States for 1917 shows the con- 

 sumption of sugar to be 3,954,187 to ns, an increase of 295,580 tons or 8.079%, against a decrease 

 of 142,924 tons or 3.759% for 1916, against 3.672"^/^ average yearly increase for 30 years. The 

 average price for Granulated for the j^ear 1917 was 7.663c. and Centrifugals duty paid 6.228c, 

 difference 1.435c. per pound against 1916 difference of 1.076c. and 0.917c. in 1915. The average 

 price of Cuba Centrifugals cost and freight for 1917 was 5.208c. 



The 1917 consumption is the largest on record. At first thought when the trade has vividly 

 in mind the short supplies and transportation difficulties of the last four months, a decrease in 

 consumption for 1917 might be expected or at least no increase over the 1916 consumption figure 

 which showed a decrease compared with 1915. However, the large consumption durmg the 

 first half of 1917 had its effect when an excess during that period of 10.7% over first half of 

 1916 was rolled up, it will be remembered, and the decrease during September, 1917, onward 

 was not enough to offset but a part of the increase of the early months. The advances in 

 March- April and June-August accentuated the demand and consumption from producer right 

 down to consumer despite increasing costs. 



The principal increase in consumption is in Beet Sugars, a large part of the 1916-17 crop 

 having been left over and was consumed in 1917 and a larger amount than usual of 1917-18 crop 

 was consumed in the old year. The car shortage was one of the principal factors that con- 

 tributed to not even more of the 1917-18 crop being consumed in 1917. The beet crop does not 

 promise to reach the largest American beet crop of two years ago — 779,756 tons for 1915-16 

 outturn. 



Louisiana crop was pushed for sale and with balance of last year's crop consumed, shows 

 a good increase. The settlement of differences between refiners and the State of Louisiana per- 

 mitted larger operations through New Orleans, and with some Louisiana factories refining Cuban 

 raws exceeded largely the past two year's figures and also the normal of 1914. Texas makes but 

 little sugar from cane now, but syrup instead. Galveston imports were about normal, but there 

 is a new source of supply this year through Savannah. Hawaiian sugar shows a large increase 

 as the carry over is lower at the end of the year. Phihppine sugars did not participate to such 

 an extent, the situation of the Islands, such a long distance from this country, precluding the 

 procuring of the ships necessary to carry same. 



San Francisco keeps up its large increase from year to year and accounts to a large extent 

 for the increase in independent refiners' meltings, although the refining of Cuban raws by Louisi- 

 ana factories and the entrance of the Savannah Sugar Refining Corporation into the field also 

 had their influenes. 



The Atlantic Ports showed a large falling off in both Meltmgs and Exports, the latter being 

 about the same as those of 1915. The eastern refiners do not, for some reason, seem to get their 

 natural percentage of increase along with the other branches of the U. S. Sugar Industry. Melt- 

 mgs showed a reduction throughout the year and the very small receipts for the last three 



